CPO Futures Up On Bullish Outlook

Crude palm oil futures on Bursa Malaysia Derivatives ended higher yesterday on expectation that demand will increase during the fasting month in August, a dealer said.

The market was also supported by the rally in soyabean oil prices, he said.

August 2010 rose RM34 to RM2,493 per tonne, September added RM31 to RM2,449 per tonne, October increased RM38 to RM2,449 per tonne and November perked by RM33 to RM2,445 per tonne.

Volume shed to 26,327 lots from 30,313 lots on Thursday while open interest fell to 69,473 contracts from 71,380 contracts previously. On the physical market, July South ended RM40 higher at RM2,510 per tonne.

Source: Business Times



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